Deal between Jet and Etihad may be concluded in a month

According to sources in the union aviation ministry, the deal between Jet Airways and Abu Dhabi-based Etihad Airways may be clinched in a month. The government is expected to assuage the concerns of Etihad Airways on investor protection and help both the companies finalise the deal soon, sources said. It may be recalled that Etihad Airways insisted the government to sign Bilateral Investment Promotion and Protection Agreement (BIPA) with the UAE government in order to conclude the deal. For the last several months, both Etihad and Jet Airways have been holding discussion on closing the deal, which involves acquisition of 24 per cent equity stake by Etihad in the Indian airline company. Jet Airways would get the much-needed capital infusion once the deal fructifies and Etihad, in return, could expand its reach into the vast Indian aviation market. There were issues relating to what happened to some other UAE entities such as Etisalat and Emaar in India.